Market Snapshots

GBPJPY Wave Analysis 24 December, 2020

GBPJPY Wave Analysis 24 December, 2020

• GBPJPY broke resistance level 140.30

• Likely to rise to 142.00

GBPJPY recently broke the pivotal resistance level 140.30 (which has been steadily reversing this currency pair from the start of November).

The breakout of the resistance level 140.30 accelerated the active different-length impulse waves 3 and (3).

GBPJPY is expected to rise further toward the next resistance level 142.00 (top of the daily up channel from September and the target price for the completion of the active impulse wave (3)) – which formed daily Shooting Star in August.

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